Deutsche Bank has increased its forecast for US technology initial public offerings in 2012 after a first quarter more active for tech IPOs than any in the last 12 years.

In a report released yesterday Deutsche Bank increased its forecast from 43 IPOs at the beginning of this year to between 50 and 55 following first quarter volumes. Ted Tobiason, managing director in equity capital markets at the bank, said that 14 technology IPOs had priced in the US this year, the largest number of tech deals in a first quarter since 2000.

Tobiason said US tech IPOs had also performed well, with investors making an average of 60% above the offer price so far this year. Two deals had lost money by trading below issue.

Last week also saw the strongest first day performance of a tech IPO since the professional networking service LinkedIn went public last year. Millennial Media, a mobile advertising company, issued shares at $13 which rose more than 90% on their debut.

Tobiason wrote: “With a healthy 37 deals in the backlog and the market still warm, we expect the momentum to extend into the second quarter.”

Scott Cutler, head of global listings at NYSE Euronext, said at the exchange’s investor day yesterday that its current IPO pipeline is the “largest in years.”

Cutler said: “The pipeline is global and across all industries which we have also not seen in years. We have had our first IPO from China this year and we are starting to see the dam break for Chinese new issues.”

In total US IPOs raised $5.8bn in the first quarter of this year, 62% less than in the same period last year, according to Dealogic, the investment banking research provider.

JP Morgan was top of the US IPO league table, followed by Morgan Stanley and then Deutsche Bank, according to Dealogic.

Mark Heesen, president of the National Venture Capital Association, the US trade body, said on his blog yesterday that there are up to 50 venture-backed companies waiting to come to market.

The NVCA and Thomson Reuters first quarter Exit Poll report yesterday said there were 19 venture capital-backed US IPOs in the first quarter, the highest number since 2007, and 11 of these companies were tech-related.

Heesen said: “Do we expect this "perfect storm" to flood the market with hundreds of IPOs this year? No. But it looks as if we are in the process of slowly turning a trend that had been hurting our companies for a decade. And we are optimistic for smoother sailing ahead.”